Ethics More Than Rules Compliance

BY ARTHUR SIEGEL

The quiz, Test Your Knowledge of Professional Ethics ( JofA, Oct.02, page 110), gave the technically correct answer to question no. 4: Is the engagement partner independent if his mother-in-law is the controller of the client? But it would have been better if the answer reminded readers that professional ethics call for more than compliance with the rulesthey also require objectivity. See Rule 102, Integrity and Objectivity of the AICPA Code of Professional Conduct.

If practitioners asked themselves the question, many would conclude that, in these circumstances, they could not be objective.

Arthur Siegel, CPA
New York City

SPONSORED REPORT

Revenue recognition: A complex effort

Implementing the new standard requires careful judgment. Learn how to make significant accounting judgments and document them and collaborate with peers for consistent application.

VIDEO

How to Excel pivot a general ledger

The general ledger is a vast historical data archive of your company's financial activities, including revenue, expenses, adjustments, and account balances. J. Carlton Collins, CPA, shows how to prepare data for, and mine data with, PivotTables.

QUIZ

News quiz: Taking an economic snapshot and looking to the future

Recent news included IRS actions that affect individuals and partnerships and a possibly influential move by a Big Four accounting firm.Take this short quiz to see how much you know about the news.